President’s Speeches

President’s Speeches

Bubbles and Unemployment

Narayana Kocherlakota - President
Federal Reserve Bank of Minneapolis

Asset Prices, Credit and Macroeconomic Policies Conference
Marseilles, France
March 25, 2011

Narayana Kocherlakota

Paper and slides:*

Bubbles and Unemployment:
Paper
[PDF]

Paper

Bubbles and Unemployment:
Slides
[PDF]

Paper


* Preliminary. The views expressed herein are not necessarily those of my colleagues on the Federal Open Market Committee or anyone else in the Federal Reserve System. Indeed, the paper should be viewed only as an exploration of the properties of a new economic model and, as such, containing no information about my own thinking about current policy. I thank Robert Hall for comments.

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Narayana Kocherlakota